Solar energy co ASP in partnership talks

Advanced Solar Power (ASP) seeks a partner at a company value of $8-10 million.

Solar power start-up Advanced Solar Power (ASP) is conducting negotiations to bring in a partner, after completing a prototype in Be'er Tuvia. ASP is talking to several companies including a large Israeli group, with which it already has a memorandum of understanding, and a US venture capital fund.

The negotiations are being carried out at a company value of $8-10 million before money. Sources inform "Globes" that, after bringing in the partner, the company plans setting up a commercial pilot project at Kibbutz Eilot, near Eilat, to generate one- megawatt of electricity.

The prototype that has been completed demonstrates a circuit that absorbs solar energy using parabolic mirrors. ASP has also completed a system that tracks the sun to an accuracy of a hundredth of a degree.

The company, which is run by Raphael Rudnyk and Sharon Roded, has already registered three patents based on parabolic mirrors and plans consolidating its position in the small to medium size thermo-solar power station niche market generating 5-30 MWs.

ASP has identified three locations in southern Israel each covering 150 dunams (37.5 acres) which would be ideal for setting up power stations generating 6-7 MWs.

Published by Globes [online], Israel business news - www.globes-online.com - on May 24, 2009

© Copyright of Globes Publisher Itonut (1983) Ltd. 2009

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